Here is a description of the Bleeding Edge Armor from the Iron Man wiki

“This armor made Iron Man the most powerful hero in the world. It can go toe to toe with Thor and savagely beat an amped Red Hulk. Its power source has been described as a man made star. This entire armor is kept inside Tony’s body until mentally commanded, at which point it manifests itself as the Iron Man Armor. The armor is made up of Nano-Machines that can now be commanded to turn into any type of structure upon Stark’s skin. For example, the Nano-machines can turn into clothes, other armors, or even different beings completely, by having the Nano-machines change their properties into whatever Stark wants them to be. It can also dissociate to transform into the Iron Man armor whenever Stark wishes. The armor and Stark’s own transhuman body are powered by the high-yield R.T. node mounted in his chest. The high output of the node has greatly augmented Stark’s intelligence and provided him with superhuman-level multitasking and learning capabilities. The previous armor , Extremis armor , was enough to defeat The Sentry , who was at the time the most powerful superhero in the world, and the Bleeding Edge armor was much more powerful than the Extremis armor so that implies that Tony can easily defeat the sentry while in the Bleeding edge armor which makes him far more superior than any of his enemies. The known weaponry includes repulsors, uni-beam, pulse bolts, tasers, and an energy blade. Defenses include deflector shields. Other type of weapons and upgrades seems to be created by Stark’s imagination, such as a boxing glove, large guns extending from his arms, or cannons. The suit’s repulsors, which are located around the knuckles, chest, back and legs of the armor, as well as in the traditional palms, now function also as cameras, or “eyeballs”, which afford Stark a 360-degree panoramic view around himself.”